Review: Capital One® Secured Mastercard®

A rare partially-secured credit card, the Capital One® Secured Mastercard® is perfect for building credit at a low cost. In addition to a $0 annual fee and a $0 foreign transaction fee, the Capital One® Secured Mastercard® offers a $200 starting credit limit in return for a refundable security deposit that could be as low as $49. The deposit requirement also could be $99 or $200. The Capital One Secured Card also reports to all three major credit bureaus each month.

All in all, Capital One Secured is among the very best credit cards for low-cost credit improvement. Below, you can learn everything else you need to know before applying.

Capital One Secured Card Review Highlights:

Could be partially secured. You will have to make a deposit of $49, $99 or $200 for a $200 spending limit. That means it’s possible for the spending limit you’re assigned to exceed the amount of the refundable security deposit you’re required to place. Bear in mind that you can’t necessarily count on being approved for any unsecured spending power, which might be important if you need an emergency loan. But it would be a pleasant surprise if building credit is your top priority.

Will help you improve your credit. Like all credit cards, the Capital One Secured Card reports account activity to the major credit bureaus on a monthly basis. As long as you pay your bill on time and avoid maxing out your spending limit, this information will be positive and will lead to credit score gains. WalletHub’s free daily credit score updates will help you track your progress.

No annual fee helps keep costs low. Whether you need a credit card to (re)build your credit standing or to pay bills that you can’t afford in cash, not having to pay an annual fee will make your job much easier. The same can be said of the Capital One Secured Mastercard’s lack of monthly and one-time fees, which are far too common with credit cards for bad credit.

Not available to folks with seriously damaged credit. You are not eligible for the Capital One Secured Credit Card if you have a non-discharged bankruptcy, a past-due Capital One credit card or an over-limit Capital One card. Furthermore, you can’t have a Capital One credit card that has charged-off in the past year, and your monthly income must exceed your monthly housing payment by at least $425.

At the end of the day, the Capital One Secured Card is one of the very best credit cards for building or rebuilding your credit standing. It’s one of just a handful of credit cards for people with bad credit that does not charge an annual fee. And it’s one of the only secured cards whose spending limit can be higher than the amount of your refundable security deposit.

The Capital One Secured Card deposit requirement is $49, $99 or $200. You will find out which of these three deposit amounts you’re required to put down after you get approved (if you get approved) because the decision depends on Capital One’s review of your credit history, income and debt obligations. That’s one way this card is unique. Most other secured cards require your deposit when you apply. Most secured cards won’t give you a spending limit that’s higher than your deposit, either. Again, not the case with Capital One Secured. Everyone who’s approved gets a $200 credit line. So the Capital One Secured Card is only partially secured if you’re assigned a deposit of $49 or $99.

Regardless what deposit you’re required to make, you can put down more to get a corresponding bump in your spending power but only before opening your account. For example, if you tack $100 onto your required deposit, your spending limit will be $300 to start with. You can’t add to your deposit after account opening, but if you pay your bill on time for the first 5 months, you’ll be eligible for a higher limit without adding to your deposit.

Of course, paying the Capital One Secured Card’s deposit isn’t the only requirement you have to meet the get the card.

Here are some other Capital One Secured Card requirements:

1. Credit score. This is a prettylow bar to meet. You can get this card with bad credit or no credit at all. Your credit just can’t be incredibly damaged (like if you’re still in bankruptcy or have late payments on another Capital One card).It might be good to try to take a few months to get your score into the fair credit range (I recommend 640+). If you have bad credit, you’re more likely to have to pay a $200 deposit than you are with fair credit.

2. Income. Technically, you don’t need to be working to get this card, but it certainly helps the approval process along. A steady flow of income will score you points on the application. After all, if you’re making money, Capital One can be less concerned about the amount of collateral they need.

3. Lower debt. You can certainly be approved with debt. But the less you have, the better. If you already have to pay a lot of other bills every month, Capital One probably will want you to deposit more to be sure they can get their money back if you don’t pay off your card.

This is an excellent card for people who need to build or rebuild their credit. It’s unique in the fact that it can be partially secured, with a credit line greater than the deposit. And there’s no annual fee, so even if you don’t use the card, you can still build credit for free. To top it off, you can get a higher credit line by paying on time and eventually graduate to an unsecured card.

There are two ways to get a Capital One Secured Card credit limit increase: depositing more money than required and consistently paying your monthly bill on time. The first option is available prior to account opening and the second after your account has been open for at least five months. I’ll walk you through both below.

Capital One Secured Card Credit Limit Increase Options:

1. Over-Deposit Before Getting Your Card

If you get approved, Capital One will require you to place a security deposit of $49, $99 or $200 to actually open your account. The deposit amount you’re assigned depends on your overall creditworthiness, but everyone starts with a $200 credit limit – unless you deposit more than is required, that is. Any amount you deposit above what’s required will boost your spending limit by the same amount. For example, if you’re required to place a $49 deposit and you put down $149, your credit limit will be $300 instead of $200.

You can actually raise your credit limit up to $1,000 this way. But that’s the absolute maximum, and you can only do it when you first send your deposit.

2. Pay On Time For 5+ Months

After account opening, the only way to get a Capital One Secured Card credit limit increase is to pay on time for 5 months. If you do, Capital One will likely raise your credit limit during the 6th month. By how much, though, is completely up to them. If you pay on time but other aspects of your credit get worse, you might not get an increase.

It’s also possible that Capital One will eventually return your deposit and transition you to an unsecured credit card with a higher credit limit. But that depends on how financially responsible you are.

Final Take

Different secured cards have different rules regarding security deposits and spending limit increases. You can usually increase your limit by depositing more money, often at any time. But you generally can’t just call and ask for more spending power without giving the credit card company something in return. And Capital One certainly doesn’t allow that.

The only chance you have to get yourself more credit is at the very start when you send in extra money on top of your deposit. Otherwise, you’ll have to speak with your actions by paying on time until Capital One raises the limit themselves.

You should get your Capital One Secured Credit Card in the mail within 2-3 weeks of paying your refundable security deposit. The card will be sent to you immediately after you pay the deposit. If you need your card faster, you can pay $16 for expedited shipping and get it in 2-3 business days.

You can get your Capital One Secured credit card deposit refund in two ways:First, once your credit has improved and you’re ready to move on from your secured card, you can close the account and your full deposit will be returned to you.The second scenario is when Capital One feels as though your credit situation has improved and you are ready for an unsecured product. They may automatically upgrade your card to the Platinum and refund your deposit.

You cannot ask for a Capital One secured to unsecured graduation, but graduation is definitely possible. The first option when it comes to graduating is the Capital One Platinum, which is a reasonable no-annual fee credit card.So hang in there, and keep making those payments!

One way to go from a Capital One secured to unsecured card is applying for a new Capital One credit card that doesn’t require a security deposit. There are also reports of Capital One graduating secured cards to unsecured, but you can’t be sure they’ll make the switch in your case. It doesn’t hurt to ask, though.

If you would like to request a switch, you can call Capital One customer service at 1-800-227-4825. Enter your card number and ask to speak to a representative. Then, ask about your options for graduating to an unsecured card. The longer you’ve been making timely payments, the better your chances will be.

There are a few more points to think about before you take action.

Here’s what to consider before going from a Capital One secured to unsecured card:

Your two options are applying for a new Capital One card or asking Capital One to graduate your existing card. Neither is a guaranteed success.

You can ask Capital One to graduate your secured card to unsecured by calling 1-800-227-4825.

Capital One might offer to graduate your secured card even if you don’t ask. That would mean you’ve been a very responsible cardholder.

Some users report graduating from Capital One secured to unsecured after anywhere from 8 months to 2 years.

The more your credit score rises, the better your chances are of getting a new unsecured card or graduating from your secured card. On-time payments are crucial to that.

Other than the deposit, there’s little difference between a secured card an unsecured card. Both report to the credit bureaus and have the same credit building potential.

You can increase your Capital One secured credit limit up to $1,000. You can do this by adding more money to your deposit within 80 days of opening the account. Capital One may also increase your limit after you make your first five payments on time.

If you want to go from a Capital One secured to unsecured card, the best thing you can do is make your payments on time and generally using your credit responsibly. Aside from that, it’s mostly a matter of patience. Once your score has improved, you can either try for a new card or ask if Capital One will graduate you.

This card is designed for people rebuilding credit so the approval requirements are more lenient, accepting applicants with bad credit or no credit. However, besides your credit score additional factors like income, outstanding debts and job status may be involved when your application will be considered. Best of luck!

3.7 out of 5

It was good for rebuilding my credit but my credit line was never increased as stated. They say after 5 months of on time payments you will get an increase. I've had the card for 2 and a half years of on time payments and no increase. I even requested an increase, only to be told that increases were not an option for the card.
Now, I just paid off the card and it sounds like the only way to get my deposit back is to completely close the account. If I close the account it will negatively effect my score by bringing down the age of my on time payment history. So ultimately I cannot get my money back without effecting my credit.

I give them 0 stars but I had to rate so that's why I had to give them a one. I was with them for only a few short months. PAID my bill every month in full and on time. Minus when they screwed up and blamed my bank, also turned around and said my payment was returned for insufficient funds! Complete and utter joke. The customer service is a bigger joke, they might be nice but they are dumb and don't do crap for you minus tell you over and over in sorry but don't help you. The supervisors are even worse rude and won't even work with you. They closed my account with no warning and the reason was complete b.s. They screwed up and took absolutely no accountability for it. Instead they blamed me and my bank lmao, what a joke! I use to like them until they treated me so poorly and closed my account for no good reason and their reason was b.s and inaccurate information. I also am going to the BBB. Don't even get me started on not being able to understand anyone who works in customer service minus the supervisors and they are rude. So yeah, I would never recommend them I rather pay high annual for a unsecured card then deal with this crap for my OWN money. Best part they told me that I can reapply for another credit card! I about died when they told me that. So yeah capital one is a horrible and scamming company never will I have anything opened with them.

worst customer service, and 1 day late will keep you form getting a credit limit increase there are better card companies out there, they are not interested in helping you they are more interested in finding ways they can charge you late fees and keep from increasing your limit to help your utilization rate
use a different credit card company stay away from this one

Sounds like to me you aren't ready to take the steps necessary to improve your credit. You can't be late not even one day. This is supposed to be a credit rebuilding card and you won't improve your credit paying late and maxing out your card. It's not Capital One's job to increase your limit to help your utilization rate. Its your job to keep your utilization rate low.

Once again I was correct just to prove u shouldnt get Capital One credit card . Even a secured credit card I got turned down . . Capital One is a joke .....................................................

Do you need help repairing your bad credit,or you need to remove bad items like hard inquires or collections from your credit or you need to boost your credit score,I strongly recommend you to creditscorerepairplc AT gmail. com just get to that gmail address for any credit issue

I'm a college student working 2 jobs and in the need to build my credit history and build my score. My first credit card I got, I missed payments and wasn't responsible with it, therefore making my initial credit score around a 470. Yes, I've been paying on that card and only had a debt of about $300. I applied for the Capital One card after being denied everywhere for any other card and they approved me. I put the 200 down and received my card about 3 weeks later. I've had this card about 2 months and my score has jumped over 100 points! I am able to now apply for more credit cards and be approved, and I'm approaching a 600 score. The app is so easy to use, and although I haven't received a credit increase in the 2 months I've had it, I make multiple payments a month and am always on time. I highly recommend this card to anyone!

I applied for this card and was told to send a deposit of $300 so I could have a credit limit of $300. The information I was given explained the only way to increase the credit limit was by increasing my deposit. I was hesitant as I had a previous horrid experience with Capital One and their customer service confusion. I had an unsecured card with $300 limit that had not been activated and was in a car accident. It became part of the vehicle. To replace the card, they required the number - which I did not have as I no longer had the card. Okay, fair enough. They said they would send out a replacement card and it would be expedited. I waited and a month later, called again. Oh - you have to verify your identity. For a replacement card? Oh - ignore that. We sent you the card - it will be there any day. Another three weeks pass and I call again. I ask where the card is, when it was sent, why it hasn’t arrived. Oh - we didn’t send it. I ask to speak to a supervisor and an hour later, a nice lady in Nova Scotia explains my account was closed and the card cancelled. Would I like to reapply? Considering the number of different stories I had heard from the call centre reps, I passed on it.

This deserves no stars.
I tried setting up a mobile payment on my CapitalOne app. At the time I was out of the country in Mexico. 3 separate times the payment came back as returned over the course of no more than 4 days. When I got back home to San Diego I called to take care of it - I was placed on hold for close to 45 minutes. I hung up because I had to go into a meeting. Called back in the very next day because when I checked my account both of the credit cards had been closed off due to the returned payments.
I had NEVER missed a payment with them. I got absolutely no call or heads up that they were going to close my account. They closed both of my accounts even when the other one had no returned fees.
Now they are saying neither account can be re-opened. Keep in mind I never had a late payment, called in to make it right, wasn't given any warning, and they come back with this. It's ridiculous. This is going to adversely affect my credit when their app was the reason I wasn't able to get my payment scheduled properly.
I DO NOT recommend this company to anyone. Unfair, unjust, unworthy. Don't open a credit line with them. I will be reporting their practices to the BBB as well as sharing this information with my network on every social media platform I have. Don't trust the cheerful TV commercials - it's all bullshit.
**The reviews on their website are fake since there is no where to leave one.
- Antouan Benbalit

This card is TRASH! I've had it 3 almost 4 years, no spending limit increase! Pays bill on time and I have other cards with higher limits (trust me, I know how credit works! ;-) )They have taken my available credit twice and not applied it my purchases! Saying I owe more than what is due! STAY AWAY FROM THIS CARD! TRASH. TRASH. TRASH

I'm a student who also works and makes $21,000 a year. I've never had a loan or credit card, and am looking to build credit. Capital One denied me for both their student card and this secured card. I give up with Capital One.

So far, so good. I got approved with a CS of 512 with a deposit of $200 for a limit of$200. After 6 moths they raised my credit by $300 for a total of $500 without further deposit. I haven't received my deposit back yet. I think it's too early or my CS is not high enough.

I applied for this card on March 16th, 2018 with a deposit of $49, which I paid right away. I received my card in the mail on March 27th. My first payment was due on May 14th which I paid in full about a week early. Capital One first reported to the credit bureaus on May 18th. My score was at 520 and increased to 604, that is an increase of 84 points! All that I could say was wow! And that was just from one report, I can't wait to see how much my score continues to go up! If you are debating on getting this card or not, don't hesitate you won't regret it. Thanks Capital One, I could not be happier!&#x2026; read more

I am very thankful for Capitol One.My scores have increased and I actually have offers now. I started with the CS with a 49 down for the 200 limit in January 2018. My scores were 520 Experian 572 Transunion and 612 Equifax. We are now in May and Transunion is 618 with Experian at 598 and Equifax is few points higher.They also will give you an increase after your 5th on time payment but the secure card will always stay secure.Also with the CS you have to wait 6 months to apply for the non secure platinum or the quicksilver a mistake i made at 5 months but thankfully did not get 2 inquires because you are not eligible till after that.They gave me a chance, when after many attempts i thought i had 0% chance will always be appreciative.

Seems like several problems mentioned in the lower ratings could be avoided if people bothered to READ.
I've had this card for eight months. Got it because having no credit was not doing me any favors. I gave the minimum I had to ($99) for a $200 limit and, after reading it's best to stay under 10% of the limit, only ever spent $20 at a time before I paid it off. My credit score shot up faster than I imagined after two or three months. After six months of on-time payments, I was given a $300 increase for my credit limit. Completely unexpected, but very much appreciated, though I still stay under 10% of the limit. I've since gotten two more cards (Discover and CareCredit), but Capital One remains my favorite for its feature to lock the card. I know the account has to be closed get your deposit back. I honestly don't care. As long as I continue to have a positive experience with Capital One, I don't want to close to my account.

Seems like several problems mentioned in the lower ratings could be avoided if people bothered to READ.
I've had this card for eight months. Got it because having no credit was not doing me any favors. I gave the minimum I had to ($99) for a $200 limit and, after reading it's best to stay under 10% of the limit, only ever $20. My credit score shot up faster than I imagined after two or three months. After six months of on-time payments, I was given a $300 increase for my credit limit. Completely unexpected, but very much appreciated, though I still stay under 10% of the limit. I've since gotten two more cards (Discover and CareCredit), but Capital One remains my favorite for its feature to lock the card. I know the account has to be closed get your deposit back. I honestly don't care. As long as I continue to have a positive experience with Capital One, I don't want to close to my account.

Applied for this card in Jan 2018 been paying on time my credit went from 540 to 680 yay!!!! It’s really builds your credit I only use my card for small purchases to keep my card active I love this card can’t wait till I’m in the 700 club lol

I wown this card for 5 Years and this is possibly the worse unsecure credit card that I’ve had and company that I ever dealt with. So First off I used to have an annual fee for this card in 2013 and when came around they got rid of it (apx 2015), so I called them and guess what they said ...NO to annual waivers. Ok cool. That was just one issue at that time but honest To me, This card is basically a way for Capital One to keep your money interest free for years until you close the account. Why? Well Basically you won’t get your money back until you close the account so it defeats the purpose of helping you build credit because you need to close it and lose points.. So yes they did help me get to a 790, well I did it because I knew what I was doing, but I lost 10 points for closing.. Now after a 780 credit score they offered me a credit card with 22.16% apr and all I did was laugh at them. So Instead I upgraded my card to a quicksilver (MISTAKE) and kept my $1500 credit limit and 22.16% apr? ** oh by the way it was a 25.99 quicksilver because I had the platinum and the other rate transfered over but after a call I got it to 22.16% omg I was jumping for joy!!! (sarcasm). By the way the highest rate stated 24.24% but I had 25.99% .....So now I wound up getting a Citibank, Wells Fargo(terrible), and my Hsbc cards with $36k limit and my highest apr is 14%.. Capital One bank are just crooks and they don’t value you as a customer but they see you as money and more money only.. 5 yrs meant nothing with this bank 750-790 credit score also meant 0 and all I get is $1500 with 22.16% apr QuickSilver because they declined my Savor!! They treat you like crap once you’re a customer.. I will never ever do business with these people.. Do yourself a favor and get the discover secure or Citibank secure card, because at least you get your money back without closing the account and they upgrade your card from a unsecure to secure.. Please take my review seriously.. I got myself from 490 to a 780 in 5 yrs.. Now my credit is spotless never been late, no derogatory comments, no nothing.. Thank You Capital One for being Snakes...

I applied 2 times and were denied both times. My credit score is 590 and I have nothing but a few medical bills on my credit report. Don’t waste your time. Discover is much better. Discover actually says what it means when it says bad credit score.

Great card for those with bad credit or no credit. I had a $510 security deposit, which they increased by $300 in December. So, now I have an $810 limit after paying on time for 6 months! I usually pay in full on my cards. But I left a balance on my secured card ($25 - $50), and paid in full any additional charges I made on the card during that month. But I don't think it matters, as long as you pay on time for 6 months, they will increase your limit.

I had no credit history, got approved for a basic $200 limit with $99 cash deposit. Capital One also enrolls you in Credit Steps, where you get an automatic increase in credit after 5 on time monthly payments. Mobile app is so easy to use, I can't imagine how I could mess it up. I'm 22 and working to build excellent credit, this is definitely a great first step if you're like me.

I got this card somehow with 10 collection accounts and a credit score of 500, 200 security deposit for 200 credit limit, Not sure how but am very glad I did, It has not reported yet as am excited to see what it will do for my score as I have raised my score to 549 and the simulator tools say I will get an 88 point bounce putting me at around 630, I have used the card a lot since I got it and have paid it all except 1 dollar, Am happy to have the oppertunity because am really getting serious about fixing my credit

Not worth getting, choose a different company like discover. From high apr to low approval rate, even with the 25$ min isnt approved not to mention the hard inquiry that ruins your credit. Also lied about the annual fee.

What card are you referring to? Because the secured card doesn't have an annual fee, so you're accusing the wrong card. The only card they have with an annual fee is the Quicksilver, and they don't like about the annual fee. It's clearly stated in the fine print, and stated upfront before you apply for it. You either didn't read (like every consumer), posted a review about the wrong card, or posting false information to mislead people. But one thing is certain is that you do NOT have a capital one secured card because you would NOT have an annual fee.…show more

Don't waste your time unless you have 5 grand cash in hand to fund your account before you even get started...
Unlike all the other secured cards out there, Capital One will not let you add funds into the security account to increase your credit limit.
So if you opened the account with the minimum 49.00 to see if you like the card/services with plans on adding a couple of grand from future pay checks then do not bother.
My Secured Cards from Discover and Elan Financial both let me add funds daily if I wanted to.
Cancelling this card with 200.00 limit that is locked at 200.00, can't even use it to buy groceries or pay a power bill with it - useless!

Good so far , haven’t had any problems & they starting reporting a to credit bureaus a month later . Just waiting for my CL increase . Which is supposed to be next month with atleast $100 extra or more with no additional security deposit . As of right now I would definitely recommend . Helped my credit score almost right away

Beggars can't be choosers, but they can try with this secured card. Its the best bad credit, credit card you can put in your wallet. They even give people another chance, if you have had a card with them in the rears, so long as you show signs of getting things in order. The iPhone app is clean and updated to latest technology, payments post to available credit fast and its a big bank that doesn't scream, I have horrible credit when you use it. From personal life experience, Use it well and understand how to use it and they will keep you happy too.

This card is the BEST to start off with. Post-bankruptcy discharge five year waiting period before credit re-build, got this one and a Discover (one month after this Capital One card; security deposit for Discover was $200, respectively, but necessary to build relationships with each of these companies). FICO score of 500. I put $200 security down on Capital One Secured credit card, acquiring a $351 credit line. Planned to keep it at the "sweet spot" of 10% (not 0 and not 30%), but wound up having to max out each month. The trick here for reporting is to pay most of it off (down to the 10%) either the same day, or the day after the charge, and even then, only well within the first week of the new cycle only, so as to always allow a buffer of at least 7-10 business days book-ending cycles (time for processing and or possible snafus). This shows high activity, immediate/ or very quick, near-full pay off, then, with AutoPay set up, it cleans up that remaining 10% on the account each month, and thus, reports that I am at 10% usage, at the time of reporting. Wait till the reporting period closes each monthly cycle, then (if absolutely necessary, do it again). After three and a half months (and monthly online credit line increase requests - which are not hard inquiries, so do not affect your credit report), I got a credit limit increase of DOUBLE, at $651. This was early according to all I read. I find it tremendously important and absolutely worth the some $30 odd bucks per month, to use my Experian account. I also have Credit Karma, but BE WARE, Credit Karma is free for a reason - it is a rough estimate and often inaccurate on various levels. Use both, but definitely Experian, and check it regularly. Also, get your AnnualFreeCreditReport; this is from the government, free, and a solid, accurate cross-reference resource tool. This IS NOT THE SAME THING AS FREECREDITREPORT.COM - which is shyte...don't pay for it (clue: .com verses .gov.). Two months later, I applied for several cc again (risking hard hits to my steadily climbing FICO score, which vacillated, yet rose up to 638), and got approved for two more cc's: my first unsecured card, a Capital One Premier (this might be on the "step system" also, along with the Secured card - I double, and triple-checked this with Capital One representatives regarding the initial Secured one). This new Unsecured card is with a credit line limit of $300. I immediately requested an increase on that one, and it is pending, though I am not sure if it will go through. If not, they say, request again in six months, as it is very likely to go through at that time, whether I get the increase now as well, or not. Another unsecured cc was approved too for a different company, credit line limit of $500, but I do not think that it is worth it in the mid-run: not a good card overall, for a quick (1-2 year) secured card duration of quick credit rebuild. Will decline and choose not to activate it. Would have to take a hit to credit score if I kept this one for only a year, and then closed it out, so not worth it. At this point, I am golden: wanted an unsecured, good credit card as soon as possible. Now I no longer will apply for cc's and thereby no longer take hits to my credit score by getting the hard inquiries. Will now, just maintain for the next 1-2 years, and wait for good unsecured offers (might apply for good/ great cards 3-6 months after FICO score has maintained at 700 or so, if not getting solid offers by then). Will also continue to add to my security deposit to the max ($2,500) for Discover, and get another Capital One Secured with an account opening security deposit of the max ($3,000), if at all possible. Will only do this for whichever company rolls the cash over into an unsecured account...can't recall at the moment which one does that, but pretty sure it is Capital One due to their "step system" for initial small secured and unsecured cards that I have verified as such with them for their current contracts. Won't do it for both though, as it is a waste of big cash for a card that, really, only needs to be used for a relatively short time (1-2 years maximum, pending solid offers from unsecured cards). Additionally, might go ahead and become an "Authorized Card User"; on a friend's cc (with no access or use of their card, of course), as they have terrific credit, and this will boost my credit in a safe way for their own credit (first, need to pay off current cc's, and keep all actively used at the "sweet spot" of 10%). Plan is going well, and it has only been a few months (Feb -July = 5 months). At this rate, if all keeps according to plans, and as I carefully pay down recent accounts and (even more carefully) pay old accounts (only directly to each company with correspondences, and proof of payment records, along with hawk eye on Experian reports to all three credit bureaus in case I have to dispute - and that is a whole other risk...)....will be in the Fair (650-699) to Good (700-749) credit range of FICO scores within a year and a half to two years. At that point, will be getting offers for good unsecured real credit cards. Capital One (and Discover) have the BEST CUSTOMER SERVICE too, which is of absolute high value to me. Oh, one other thing! This whole time, I have been getting offers in mail for slowly increasing amounts of credit. These are all forms: autos, cc, loans. They are awful cc offers, but I keep them in my records (along with all cc receipts for records on each account), so as to, a- keep motivated, and b- watch the pattern of offers that should be rolling into me in response to thorough reporting. I never use these bad offers, but they are good incentive, and check systems for my progress and reporting agencies double-checking. My goals soon after this are big (doctoral program, car, big move), so I need fantastic credit as soon as possible. Since credit is a lot about newly habituated patterns practiced and reported over time, I need to optimize every moment of that time that I can. I love to research with solid, non-affiliated parties too (Consumer Reports, NerdWallet, WalletHub, etc.), and learn all about this, and the next steps...personal wealth building with investments, and portfolios (gotta self-teach, as no one in my family knows money sense). It is fun! Good luck, fellow builders! :)

ONLY if you must really have a credit card. Otherwise, stay away from this card. Took 4 months to report....and then only reported 1 month worth of payment history. Kinda sucks if you ask me. Better off trying DISCOVER and JETBLUE MASTERCARD... Much better credit limits and much better fair reporting.

First. There is an annual fee. It's said there isn't, and there is.
Next. Abysmal customer service; good customer service is necessary when dealing in personal financial matters. At least I think so; if I have a problem with an institution in regards to my money, I like being able to talk with someone directly about it. Capital One is one of those companies which make it difficult, to nearly impossible, to be able to get through the voice system or web interface to communicate with an actual living person.
Using the card isn't so much of a problem since MasterCard is accepted nearly everywhere.
Also? What has been noted about your deposit merits attention:
You give Capital One a deposit, and the deposit is held forever. Essentially you are paying for a credit card.
Update: After I posted this review my card was canceled. Capital One, evidently, does not enjoy lively public discussion about their customer's experiences.
Renewed Update: After I sent Capital One a copy of this review to their facebook page, asking for an explanation, my card was reinstated. Not my preferred way of doing business, which is the point of my review.
Another Update: Every time I try to use the card Capital One Card they decline the purchase ...with the continued level of customer service already described.

I am in love ;) Capital One is the best credit card I have ever dealt with. Started out with $200 deposit...in 6 months steady use without missing a payment I was given $500 in credit; after my first yr without missing a payment I got my $200 back in the form of a credit. The interest is the lowest I could find; out of all the other cards out there. (10% more at least) I have never had to use customer service since the day I called to get the card :D My credit has risen 50 points in this past year. Thanks Capital One

Finally got a decent paying job about a year ago. Currently making 35,605 a year. Filed a chapter 7 bankruptcy back in 2007, and have 6 negative collection accounts on my account. Current credit score 597. Ive messed up a lot but actually started at credit karma and they recommended this card to me saying I had a excellent chance of getting it. This site says i have a good chance. Just a heads up to some that are trying to rebuild their credit and think like i thought well if its a secure card and your giving them the money up front than what risk is it to them to approve you. Well after applying for it within 60 seconds it told me i wasnt approved and were going to be sending me a letter on the reason why. Now I have a hard inquiry on my account. Just giving a heads up for people that think its a guarantee because its not at all.

This card was recommended to me by my father, after I came to him asking about which credit card would be best for me in my married life. He recommended this card, as the down payments were relatively low, and could be made lower based on how well i am doing in my job. I've had this card for a little over a year, and all I can say is that I can't complain. My interest rates are a lot better than my past credit card.

It wasn't hard to find a pre-paid card online. There are so many advertised.capital one prepaid card was my first choice after performing a simple google search, reviewing information on several sites,comparing the annual and monthly fees, withdrawal fees, swiping fees, for several cards. I decided capital one was, by far, the less pricey option and went with that one. Other cards charged too much,such as MasterCard pre-paid cards for example.. Their fees are ridiculous. So, I applied for my capital one card on their website and received the actual card about a week later. It was easy to activate online. No issues there. The fees are exceptional and if you activate direct deposit, there are none. I get to use the card and essentially pay nothing to do .

This is the worst credit card company ever. They froze my account without prior knowledge. I found out when I tried to pay for my groceries and the card was declined. These sneaky bastards froze my account AFTER taking out money from my bank account to pay off the complete balance. I called to figure out what happened and I was told it was because they were switching to chip cards. I've had the account for years so of course my address wasn't updated so they sent my new card overnight we to the wrong address. So i called, updated my address and they STILL sent it to the wrong address. I called AGAIN just to be told they will send it out a 3rd time but they couldn't do overnight delivery. Fed up, I tried to cancel my account and was told that I wouldn't get my money back for 60-90 days. STAY AWAY, this company is super shady and the customer service is the worst I've ever encountered. (My last conversation was with a manager from TAMPA FLORIDA named AUSTIN and he was the worst supervisor I've ever spoken to)

Great card so far made my deposit on 2/22/2016 received my card 3/07/2016 c1 report the 1st month hoping with on time payments and good utilization credit goes up mad mistakes in the past but looking for to a better future with good credit and does c1 truly give limit increases on this card?

I got the Capital One Secured MasterCard because I have bad credit and wanted to have a card to use in the event of an emergency. I was not sure what my credit limit was going to be from the start, and I could not find information about how much your limit will be with each deposit you put down when opening the account. Aside from that, the card opening process was easy. One issue I have is that they count many transactions as a cash advance. I had over $150 available on my credit line, and I tried to send money to a family member via Western Union, and it would not let me send it because Capital One counted that as a "cash advance". Your cash advance limit is much lower than your credit limit, so you can see why this may be an issue for some people. Other than that, I like the card and it works for me on most transactions. Customer service has been helpful and easy to understand anytime I have had an issue. I would recommend it to others.

The Capital One Platinum secured credit card is excellent for rebuilding or establishing creditworthiness. I applied for and was approved for this card in April of 2013. My credit scores were in the very low 600's and after 18 months of responsible use ( No missed or late payments and keeping my credit utilization between 10% to 20%) I was approved for a unsecured Capital One Quicksilver card in July of 2015 with a credit limit of $10,000. A secured credit card is like training wheels for adults.

I got this card because I was new to credit and needed to build up my credit history. This was a very good card to start up with, they instantly approved my application and required a minimum $250 deposit. After getting my card I instantly started using it with the $500 credit line they granted me. Everything was absolutely fine with the card, I made payments every month no questions asked. My main grip with this card is that it does have a high starting APR. If you're not too responsible with the card, it could lead to some disaster so becareful. Otherwise this card is a great starting point for those looking to build their credit up.

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Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.

Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not issuer’s responsibility to ensure all posts and/or questions are answered.